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The Total shortfall in the Nigerian power sector has reached N1.6trillion in eight years. Executive Director, Research and Advocacy, Association of Nigerian Electricity Distributors, Sunday Oduntan, who revealed this on Monday, said the shortfall was recorded in the fourth quarter of last year.
The Non-Performing Loans, NPL, ratio of Commercial Banks in Nigeria jumped to 5.3% in April 2022 from 4.84% held in February 2022. According to data from the Central Bank of Nigeria, NPL ratio calculates the percentage of Bank loans that are either not being serviced effectively or have gone bad entirely. Meanwhile, the Capital Adequacy Ratio, which evaluates a Bank’s balance sheet soundness, moderately increased to 14.6% in April 2022 […]
Former Anambra State Governor, Peter Obi, has emerged as the Presidential Flag bearer of the Labour Party. Obi emerged as the Candidate of the Party after a strong contest with Olushola Emmanuel-Tella who was the only Aspirant that refused to step down.
At least 30 beneficiaries have been trained by the National Directorate of Employment,NDE, on Enviro-preneurship. Speaking during the training, the Director-General of NDE, Abubakar Fikpo, said the programme was under the Special Public Works Department and was geared towards solving environmental problems and reducing the rate of joblessness. Fikpo revealed that the training would last for three months, with each participant earning N10,000 per month to enable them visit waste […]
The total amount disbursed under the Anchor Borrowers Programme of the Central Bank of Nigeria rose to N1.01trillionn as of the end of April. According to CBN’s reports from its Monetary Policy Committee, between January and February 2022, the Bank disbursed N29.67billion under the Programme for the procurement of inputs and cultivation of maize, rice, and wheat. It added that between April and May 2022, the Bank released the sum […]
Nigeria generated a total of 86.78GWh on Thursday, representing a 2.3% increase compared to 84.84GWh generated in the previous day. According to the Transmission Company of Nigeria, TCN, Nigeria’s energy generation and supply is still below the minimum 105,000MWh required to record some level of stability in power supply in the country.
The Federal Inland Revenue Service, FIRS, has revealed that on behalf of the federal government of Nigeria generated a sum of N532.48 billion from Company Income Tax (CIT) in the first quarter of 2022. According to the National Bureau of Statistics, this represents an increase of 35.6% compared to Q1 2021. On a quarter-on-quarter comparison, company income tax revenue increased by 53.1% compared to N347.81 billion recorded in Q4 2021.
Reports say 10 Nigerian Bank stocks depreciated in value at the close of trading. According to reports, the 10 banks lost about N96.325 billion in a day. With the hike in MPR, Nigerian stock market will be lukewarm with sideways movement in equities.
The Nigeria Liquified Petroleum Gas Association, NLPGA has provided reason for the unsteady cost of cooking gas in the Country. NLPGA President, Nuhu Yakubu, disclosed that the fluctuations in the LPG price were caused by the local rate of the American currency. Yakubu, however, disclosed that advocacy and talks are ongoing to address all critical issues.
